This is a depreciation recapture. However, if taxpayer instead sells the property for $1200, because his recomputed basis is $600, $400 of the gain is taxed as ordinary income and $200 is taxed at the more favorable capital gains tax rate.
The tuition charge is $10,088 while room and board is $8,270, books and supplies are $1,130 and other fees come in at $1,929. Residents of Virginia pay an annual total price of $21,417 to attend Virginia Tech on a full time basis.
The cost of Texas Tech is reduced dramatically for residents of Texas. Tuition for in-state students is set at $5,277 for the 2015 - 2016 year, a 53.8% discount off the regular price. Fees are $2,751, bringing the total yearly cost for in-state full-time undergrads to $8,028. Texas Tech tuition and fees for out of state students is $17,388 for the 2015 - 2016 school year. This is prior to adjustments for financial need so some students will pay less than this. Of this amount, $14,637 was the cost of tuition and $2,751 the cost of fees.